Euro Area Said to Give Greece Five Days to Deliver Plan

[Purveyor]

by Rebecca ChristieJeff BlackKarl Stagno Navarra
9:40 AM EDT March 25, 2015

(Bloomberg) -- Greece has until Monday to show how it will follow through on reform commitments after the euro area ruled out speedy access to aid funds, three officials said following a conference call of finance ministry deputies.

The currency bloc left the door open for Greece to access 1.2 billion euros ($1.3 billion) that has been allocated to aid the banking system, if the cash-strapped nation can show how it will move ahead with the changes that its creditors are seeking. At the same time, the euro zone’s other 18 members were adamant that Greece needs to deliver specific plans to see any more bailout cash, the officials said.

Greece can’t get faster access to the bank-aid money, the European Financial Stability Facility said after Wednesday’s call. The deputies concluded that, legally, Greece didn’t overpay when it returned the money in February, the EFSF said.

As a result, Monday will be a serious test of whether Greece can convince its peers that it will meet their demands for an economic overhaul, the officials said. Once Greece submits its next documents, they’ll need to be reviewed by the country’s official creditors and then the finance ministry deputies in the first few days of next week, ahead of Easter holidays, one of the officials said.

more...

http://www.bloomberg.com/news/articles/2015-03-25/euro-area-said-to-give-greece-five-days-to-deliver-plan

[darkangel218]

1. And Greece said: food, booze and music!

Ugh.. why is the EU even trying. They're lost cause.

[randome]

2. So much for the Socialist Revolution.

So long, Mr. Pavlopoulos.
[hr][font color="blue"][center]You have to play the game to find out why you're playing the game. -Existenz[/center][/font][hr]

[darkangel218]

3. What Greece did was unbelievably stupid.

They dug their own grave. ( sorry to say )

I just hope the EU will kick them out before they bring down the whole union.

[TheKentuckian]

4. I'm getting near believing they should plan to use that larger than normal military spending

No surprise of course the Turd Way sociopaths are on here demanding more blood be squeezed from the Greeks.

I hope they bring down the European Union, it is all about enforcing neoliberalism and nothing else.

[Hestia]

5. Greece: Radical Eric Toussaint to audit Greek debt

Greece: Radical Eric Toussaint to audit Greek debt

By Eric Toussaint, translated by Christine Pagnoulle and Vicki Briault
March 21, 2015 -- Committee for the Abolition of Third World Debt (CADTM), posted at Links International Journal of Socialist Renewal -- The president of the Greek parliament, Zoe Konstantopoulou, has set up a commission to audit the Greek debt and has asked me to play an active part in it. I have accepted the role to assume its scientific coordination.
This commission was launched on March 17, 2015, in Athens. |1|Recently the Athens correspondent for Le Monde wrote,
The Speaker of the parliament promised she would set up a commission to audit the Greek debt in the coming weeks, aimed at finding out whether part of the Greek public debt is odious, illegal or illegitimate. She declared, "People have a right to demand that the portion of the debt that the commission finds to be illegal be cancelled”. |2|

Such is the intricate context in which I write.

Without claiming to be exhaustive, we can propose the following definitions:

Illegitimate public debt: debt that was contracted by a government without considering the public interest or undermining the general interest.
Illegal debt: debt contracted in violation of the current legal or constitutional system.
Odious public debt: loans to authoritarian regimes or granted on conditions that violate the social, economic, cultural, civic, and political rights of the people concerned.
Unsustainable public debt: debt that can only be paid back with dire consequences for the people such as a dramatic degradation of its living conditions, of health care and education, an increase in unemployment. In short, debt that undermines basic human rights. In other words, debt whose repayment makes it impossible for governments to provide basic human rights.

more at: http://links.org.au/node/4347

FWIW anyway - I do know that the PM was elected 2 months ago and the EU is really pushing for an answer Now Now Now. WTF? You can't give a guy the chance to find the bathroom first?